Ames v. Wilkinson
Supreme Court of Minnesota
Action brought in the district court for Hennepin county, and heard and determined by Lochrén, J., on an agreed statement of facts in substance as follows: On May 20, 1887, plaintiff lent the Duke Soap Co., a corporation of this state, $500 on its promissory note payable 90 days thereafter, and indorsed by Slocum before delivery, to guarantee its payment.
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Action brought in the district court for Hennepin county, and heard and determined by Lochrén, J., on an agreed statement of facts in substance as follows: On May 20, 1887, plaintiff lent the Duke Soap Co., a corporation of this state, $500 on its promissory note payable 90 days thereafter, and indorsed by Slocum before delivery, to guarantee its payment. The note being unpaid at maturity, plaintiff sued the maker and Slocum in the district court for Hennepin county, and on October 19, 1887, recovered judgment against them both. On September 7,1887, the corporation, being insolvent, made an…
1Opinion of the CourtVanderburgh, J.
This case calls for a determination of the ques*149tion whether, under the insolvent law of 1881, and prior to the amendment of 1889, the acceptance of dividends and filing the statutory release by a creditor, upon the discharge of an insolvent principal debtor, operate per se to discharge the sureties of such debtor in respect to debts proved by the creditor in the insolvency proceedings.
This court has held that the act in question has all the essential elements of a bankrupt law, though limited in its operation and effect, as respects the distribution of the debtor’s assets and the discharge of…
2Cases cited6 opinions
- Denny v. BennettSupreme Court of the United States · 1888
- Ward v. JohnsonMassachusetts Supreme Judicial Court · 1816
- Salters v. TobiasNew York Court of Chancery · 1831
- In re StevensDistrict Court, D. California · 1870
- Tooker v. BennettNew York Supreme Court · 1805
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Downs v. American Surety Co.Supreme Court of Minnesota · 1916